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Stock Market / Finance in Syria

  • Syria to Ration Imports to Rein in Soaring Foreign Exchange Rates

    SYRIA, 2017/05/28 Next three years of intervention by the central bank to sell foreign currency on the domestic market, the Syrian government has decided to back up its intervention with economic measures, rationing non-urgent imports to rein in the increasing drop in the exchange rate of the Syrian pound. Damascus — Barely hours next the Syrian government declared that it would be implementing new measures to control the exchange rate of the Syrian pound, the exchange rate of the US dollar soared on the black market, nearly hitting 254 Syrian pounds. This was seen as a preemptive move by speculators, intending, according to observers, to chief off any positive results from the new measures and to impose a new level for the exchange rate on the central bank, as has happened before.

  • Syria tensions likely to hit Gulf markets

    SYRIA, 2013/08/28 Gulf markets are likely to be dampened on Tuesday by the possibility of international military action against Syria next Washington said it believed the government in Damascus was responsible for the use of chemical weapons. An August 28 conference between senior diplomats from the United States and Russia on Syria was postponed, while the Washington Post said U.S. President Barack Obama was weighing a military strike against Syria. It is not clear whether an escalation of the fighting in Syria would actually have any direct impact on Gulf economies. Although it is possible that Damascus and its allies could mount covert action against the Gulf, such action would probably not change long-term economic prospects.
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